- Mt. Gox to start Bitcoin and Bitcoin Cash repayments to creditors by July 2024.
- 142,000 BTC and 143,000 BCH will be distributed, resolving long-standing claims.
- Mt. Gox’s repayment plan signals a significant step forward in addressing its collapse.
Creditors of the defunct cryptocurrency exchange Mt. Gox are finally set to receive long-awaited repayments in Bitcoin (BTC) and Bitcoin Cash (BCH), starting in early July 2024, as announced by the rehabilitation trustee.
The rehabilitation plan includes distributing 142,000 BTC, 143,000 BCH, and 69 billion Japanese yen (approximately $432 million) to affected creditors. The distribution will utilize top global exchanges to enhance security. Creditors have already seen updates in their claims accounts, detailing repayment status and amounts due. Some have even received fiat currency in their bank accounts as part of initial repayment efforts.
The trustee has dedicated significant effort to implementing technical measures and establishing agreements with various cryptocurrency exchanges to safeguard repayments and comply with financial regulations. These measures aim to prevent issues that may arise when distribu…
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